Latest prices in Birmingham for Terraced properties
The latest figures show that the average price for a Terraced property in Birmingham has now reached £210,701 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.
Average prices for a Terraced property have increased substantially over the longer term in Birmingham. Back in January 1995, prices for this type of property averaged £38,672 based on sales at the time. Fast forward to January 2024, and averages reached £210,893 - representing a growth of 445% over 29 years.
This substantial triple-digit percentage rise in Terraced property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Terraced homes in Birmingham over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Terraced prices in Birmingham over the last 12 months
Date
Price
Apr 2023
£206,000
Apr 2023
£206,000
May 2023
£204,353
Jun 2023
£206,971
Jul 2023
£209,059
Aug 2023
£209,560
Sep 2023
£210,996
Oct 2023
£209,567
Nov 2023
£210,672
Dec 2023
£210,055
Jan 2024
£210,893
Feb 2024
£210,701
Recent trends for prices in Birmingham
The latest figures from February 2024 indicate the property market in Birmingham continues to show falling price trends. Compared to January, 2024, average prices decreased by -0.3% to £231,414. On an annual basis, average property prices have decreased -2.7% since 12 months ago.
In terms of sales activity, there were 343 residential property transactions completed in Birmingham during February, 2024. Of these purchases, 181 were financed with a mortgage while 70 were all-cash sales. For cash buyers, average prices have changed by -0.4% since January, 2024, coming in at around £214,437. For properties purchased with a mortgage, the average price changed by -0.3% since January, 2024, to £238,241.
Compared to the overall picture in its national parent England, the average property price in Birmingham are lower than the current national average of £297,735. While Birmingham saw a change of -0.3% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, more than the -2.7% yearly change seen in Birmingham.
Interested in purchasing a property in Birmingham? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Birmingham by housing type
Prices last recorded in February, 2024
average
£231,414
detached
£438,273
flat
£157,598
semi-detached
£266,218
terraced
£210,701
Prices by housing type in Birmingham
Recent data shows that price growth has varied across different property types in Birmingham over the last year. For terraced houses, property prices changed by -0.4% between February 2024 and January 2024 to reach £210,701, and changed by -3.5% over the last 12 months. The annual change was greater than the -1.7% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £266,218 in January 2024. This represents a -0.2% change from the same month last year.This is underperforming the 0.2% annual change in semi-detached values across the country.
Detached homes in Birmingham lost -0.5% month-over-month to reach an average of £438,273. Annually, detached property values have changed by -2.8%. This is weaker price growth compared to England's -0.5% change for detached houses over the year.
For apartments and flats, average prices decreased by -0.1% between February and January 2024, hitting £157,598. Over the last 12 months, apartment values have changed by -1.8%, surpassing England's flat and apartment growth rate of -2.8%.
Overall, flat properties have seen the strongest price momentum locally over the past year, with a change of -1.8%, while terraced properties lagged, with a change of -3.5%.
Recent purchases in Birmingham
According to data from HM Land Registry, there were 343 completed property purchases in the area of Birmingham in February 2024. Of these sales, 70 were recorded as cash purchases whilst 181 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -2.8% and the percentage of properties purchased with cash has changed by -2.4%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in birmingham.
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